Question 32 Todd is a cash-basis taxpayer Daren Corporation made the following payments to be on behalf of Todd hang 20X1 Note received in lieu of bonus (Fair market value $3,000, no payments made in 20X1) $5,000 Advance commissions for services to be performed in the future 1.000 Group-lorm life insurance premium paid by Daren Corporation on insurance coverage of $50,000 100 What amount should Todd report as income in 20X1? a 54.100 Ob 55100 c $4.000 Od $6.100